Bitcoin could reach $100,000 next year, Matthew Sigel, VanEck's head of digital assets research, said on Sept. 18, citing concerns over U.S. government debt, fiscal sustainability and excessive debt burdens. Bitcoin's volatility is about 50% lower than four years ago, which Sigel said reflects a different rally cycle. He also said institutional clients, including investment advisers and sovereign wealth funds, were buying Bitcoin. At 3:30 p.m., Bitcoin traded at $77,473, up 1.37% from the previous day, according to CoinMarketCap. Sigel said investors were paying more for puts than calls, Treasury bond buybacks had prompted short covering and easier liquidity could further support Bitcoin. VanEck also expects stablecoins to grow amid tensions between lawmakers and the banking lobby. Earlier this week, the U.S. Senate failed to advance the Clarity Act, which would establish a regulatory and market-structure framework for cryptocurrencies and digital assets.